Vertex Energy put volume heavy and directionally bearish

Bearish flow noted in Vertex Energy with 5,778 puts trading, or 4x expected. Most active are Jan-23 7.5 puts and Jan-24 10 calls, with total volume in those strikes near 5,200 contracts. The Put/Call Ratio is 4.51, while ATM IV is up nearly 3 points on the day. Earnings are expected on March 7th.